ARM reveals $600m data analytics deal

ARM agrees to buy Treasure Data to improve its IoT offerings.

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The British chip designer ARM, which is owned by Japan's SoftBank, has agreed to purchase the US-based data analytics firm Treasure Data.

According to those familiar with the deal, Treasure Data could be sold for around $600m making it the second largest acquisition in ARM's history after it bought Artisan Components for $705.9m back in 2004.

The new deal is part of the chip designer's push into the Internet of Things (IoT) market. Back in June, ARM acquired Glasgow-based Stream technologies to improve connectivity for IoT devices.

ARM's parent company SoftBank is interested in investing in a number of emerging technologies including AI, driverless cars, IoT, robotics and ride sharing. Over the last year the Japanese firm has announced around $34bn in deals using its almost $100bn Vision Fund.

In 2016 Treasure Data raised $25m and the company is backed by investors including Sierra Ventures and a former subsidiary of SoftBank, SBI.

Treasure Data develops products which help companies analyse data for marketing and other purposes. One specific example listed on its site is dealing with a surge in data from a product launch. Treasure Data's products are used in the automotive, retail, IoT and entertainment industries.

We will likely hear more once the terms of the deal are formerly announced.